Nio may establish a joint venture with electric vehicle battery maker Svolt to develop large cylindrical batteries. Nio needs these for its new series of EVs due to hit the market as early as 2025,Korea people familiar with the matter told 36Kr on Wednesday. The two companies are reportedly thinking of trialing production in Ma’anshan, a city in Anhui, Nio’s car manufacturing province, and pooling researchers in one team, the 36Kr post said. Nio changed its initial plans to build its own battery plant and start making 800-volt, fast-charging battery packs in the second half of 2024, according to Reuters. The EV maker confirmed media reports in July that it had delayed its battery production timeline to ease financial pressures. Svolt, controlled by Great Wall Motor’s chairman Wei Jianjun, became independent of the carmaker in 2018. [36Kr, in Chinese]
